Approve Buhari’s $30bn foreign loan – Amaechi begs National Assembly

The Minister of Transportation, Rotimi Amaechi, has appealed to the National Assembly to approve the $30bn loan request by President Muhammadu Buhari.

Amaechi made the appeal during the Second Presidential Business Forum, which was presided over by Vice President, Yemi Osinbajo at the Presidential Villa, Abuja, on Monday.

Recall that Buhari had in October submitted a $30bn borrowing plan to the Senate but was turned down .

But Amaechi, while speaking at the occasion said, “I thank God that somebody from the National Assembly is here, please approve the $29.9bn loan.

“If you don’t encourage the National Assembly to make that approval, then, the economy won’t be making the kind of progress we want it to make. So, for me here, I will persuade the National Assembly to kindly make that approval because it is tied to projects.”

The Minister also announced the release of N75bn as counterpart fund for the construction of the Lagos-Ibadan standard gauge railway line.

Amaechi explained that the fund was released in full so that there would be no delay in the implementation of the project.

“On the construction of Lagos-Ibadan railway line, the Minister of Finance has been kind enough to release the counterpart funding in full. I think in the history of Nigeria, this is the first time that we are releasing counterpart funds in full so that there will be no delay since the Chinese loan appears to have been approved,” he said.

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